Saudi Arabia warned G7 countries with selling off their securities if they attempt to seize "frozen" Russian assets
"Saudi Arabia privately hinted earlier this year it might sell some European debt holdings if the Group of Seven decided to seize almost $300 billion of Russia’s frozen assets," sources told Bloomberg.
The Saudis specifically mentioned French treasury bonds as potential sales targets if the G7 takes any illegal steps.
The publication suggests that it was likely Saudi Arabia's threat and the risk that other countries might follow suit that led to the decision not to confiscate Russian assets:
"The group eventually agreed to tap the profits generated and leave the assets themselves alone despite a US and UK push for allies to consider bolder options, including a direct seizure".
First China directly supports, now Saudi Arabia, Modi in Moscow...
